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First Time Buyer, help us please !!

Saronn · 2013-04-01 20:17:49

Hi guys I would really like some help please. :o I am a First Time Buyer currently wanting to buy a new build with someone who will be classed as a 'home mover' , she has a mortgage with her ex and will still be on the mortgage once she moves. We have seen a new build property but we've only got a 10% deposit. I've looked…

Comments

kingstreet Posts: 39,439 Forumite

28 April 2013 at 4:38PM

Nationwide is fine with a 5% builder gifted deposit, as are many lenders. They only quibble when the incentives exceed 5%. Then they take the value off the valuation of the property.

I knew this was a potential solution, that's why I suggested it in post #8. As it turns out, we now know HTB is not an option for an existing mortgage in the background.

I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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